New Delhi: The country’s exports have slightly declined in July. Also, the trade deficit has tripled.
Last July, exports saw a decline of 0.76 percent. In this month, the export has been done to the extent of 2.78 lakh crore rupees. This was against Rs 2.81 lakh crore in July last year. Prior to this, in February last year, exports saw a decline of 0.4 percent. Since then, there has been a slight decline just now.
In terms of imports, last July saw a 43.59 percent increase. While the import was 3.65 lakh crore rupees in July last year, it has increased to 5.23 lakh crore rupees in July this year. Crude oil and petroleum refining products have been imported the most in July, according to the Central Commerce Department data. Coal import has also increased by 164 percent. Import of vegetable oil increased by 47.18 percent.
Trade deficit increased to 2.45 lakh crore rupees in July last year after imports increased more than exports. Compared to 83 thousand 977 crore rupees in July last year, the current trade deficit has increased almost three times.
Exports of engineering products, gemstones, gold ornaments and pharmaceutical products have seen a decline in last July. In spite of the measures taken to control inflation and the restrictions on distribution due to the war started by Russia, the exports of 2.78 lakh crore rupees have been reported by the Ministry of Commerce.
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